How Do You Compare Target Date Funds?

Target Date funds have grown in popularity over the last decade especially inside employer benefit plans such as 401Ks.  On the surface, they all seem to be exactly the same.  First, you pick your fund based on your anticipated retirement date.  Then you let the manager handle the rest – they utilize their glide path and make the portfolio more conservative as you approach retirement.  While true, behind the scenes there are subtle differences that investors should be aware.

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Considerations for End of Year Tax Planning

As the year winds down, it is always a good idea to review your tax situation to determine if there are ways to reduce your tax liability or take advantage of financial planning opportunities that may exist.  Here are several items that may warrant consideration prior to the end of the year.

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2025 Catch Up Rules Allow 60 to 63 Year Olds to Super Save!

Since 2001, individuals over the age of 50 have been allowed to make "catch-up" contributions to their 401(k) plans, IRAs, and Roth IRAs. This provision was designed by Congress to give those nearing retirement the opportunity to boost their savings in tax-advantaged retirement accounts. Now, starting in 2025, new legislation will extend these opportunities even further.

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Celebrating 20 Years!

Since 2004, much has changed, but one thing has remained constant: our unwavering commitment to helping our clients. As we’ve matured and experienced life’s ups and downs ourselves, we’ve come to truly appreciate the value of the advice Beacon provides and the difference it makes for our clients.

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Should You Buy Pet Insurance?

One area that often sparks debates in the financial arena is pet insurance.  Is it a necessary investment, or can you afford to self-insure?  When I got my dog, Penny, I was torn on whether pet insurance would be right for us.  Penny is my first dog and we got her when she was just 8 weeks old. I quickly found out how much of a financial commitment she was going to be once we brought her to our vet for the first time.  Shots, exams, spay… It was adding up quickly. 

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Preparing for Rising Tax Rates

The current tax code is set to expire in 2026.  The article shows what has happened with tax rates since 2016 and what is scheduled to happen going forward until 2030. There are some notable changes beginning in 2026.

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Understanding Qualified Longevity Annuity Contracts (QLACs)

We have received a number of inquiries from clients recently about Qualified Longevity Annuity Contracts (QLACs). As with most types of “financial solutions,” the attractiveness of QLACs is in the eye of the beholder. Let’s take a look under the hood!

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2024 Numbers to Know

The IRS has announced contribution savings limits for retirement savings accounts for 2024. All the maximum contributions to retirement plans have increased by $500. Make sure you let your payroll department know that you want to increase your contributions to these plans.

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